Quarterly report pursuant to Section 13 or 15(d)

Equity

v3.23.3
Equity
 9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
Equity

11. Equity

 

Common Stock – A total of 49,858,194 shares of Common Stock were outstanding as of September 30, 2023.

 

Earnout Shares - Following the closing of the Business Combination, former holders of shares of Nauticus Robotics Holdings’ Common Stock (including shares received as a result of the Nauticus Preferred Stock Conversion and the Nauticus Convertible Notes Conversion) are entitled to receive their pro rata share of up to 7,499,993 Earnout Shares which are held in escrow. The Earnout Shares will be released from escrow upon the occurrence of certain Triggering Events. As of September 30, 2023, the earnout targets have not been achieved, and the Earnout Shares remain in escrow.